Multiplying My Money
I read and followed "Profit First" during my entrepreneurial days which helped establish key money managing habits I use to this day, but felt I missed a piece of the money puzzle in my life - how does my money multiply itself?
I wanted a system to make my savings multiply without clients. Could that be real?
I didn't really go out of my way to find this to be honest. It was mentioned by Ben Settle a few months back. Having been a fan of Ben since my Instagram marketing coaching days (about 2016), I knew he would only mention people and products that he trusted. So I checked out Troy and John's Low Stress Trading program. I read the entire sales page and took notes on things I wanted to learn from it. It made sense and I figured the cost of entry into a course would be a worthy investment in my knowledge of finances. I am new to options but familiar to investing in stocks. I decided to take the leap with as I wanted to get more control of my finances as I got to my mid 30's.
After studying the course material for a few weeks while employed full-time, I started with 3500$ CAD to feel things out. Then, I added about 250$ per week. And now, 17 weeks of trading later, I made about 1,276$ CAD with 69 trades following their framework. This is not in unrealized gains, rather money received in my account for those trades. The lingo would call those "premiums" for selling options.
Anyway, overall, I am averaging about 1.01% of rate of return per week in cash premiums, right on target of the programs "1% per week to financial freedom". This also equates to 17.10% net growth since I started... I don't know about you, but even the high-interest checking or savings accounts give at most 2.75% per year -- annualized, paid monthly. (via Wealthsimple in Canada). If we calculate that to weekly, it would be about 0.0523% per week. This framework in comparison gave me 1.01% per week, or at least 19 times more... What an eye opener. Why should I leave any money in my checking accounts at this point? (just something I wonder now).
I'm aware there are always risks in trading. But following the course material and framework, I am making educated and calculated risks to control my trades and reduce my risk. When things go south, there is part of the framework to guide you to be in the low stress zone (which I currently am in). And the interesting thing about this strategy is that it doesn't matter which direction the market is heading, as we are trading the trend, and not the stock. Frankly, I'm impressed.
Going through this and experiencing the growth capability encouraged me to think longer-term about my money and how to keep feeding this. I made an extensive spreadsheet calculating every penny in my personal finances along with this program too - mentioned from my earlier Finances blog post.
My 4-week average in returns are at about 294$ CAD and I'm aiming to get to 1,000$ CAD per month by the end of my first year. It may not look like much now, but this takes me less than 2 hours a week, and the more money I add to it, it will still take me that amount of time. I should be on track with my goal as I keep plugging away. Maybe even hitting it sooner as I add more to my account. This is just the start. As my account grows, things will start to become mind-boggling with the power of compounding.
The community along with the on-going support is awesome. I have been in numerous paid communities before (with high achieving entrepreneurs and coaches), but this one stood out with quality support and genuine care from the team. They provide frequent getting started calls too which has been perfect to get to know the basics again after going through the training. 10/10 course - I should I have joined sooner if I could. This changed the course of my finances as I know it. Your mileage may vary based on how you follow the framework but definitely something I would explore.
If you are interested, use my referral affiliate link to also get yourself a bonus 1-on-1 30-minute consult call with Troy himself behind the program, plus his Troyonomics book which is a handy physical addition to the material. You can join one of their daily calls this week before you sign up too to ask them any questions you may have before joining in a casual conversation. I find they are quite transparent, useful and filled with integrity.
Once again here is my affiliate link to the Low Stress Trading program
To your success. And thank you to the Low Stress team for showing me the light.